Analyst: Bitcoin's upward trend will continue until the end of 2025

ChainCatcher news, according to Cointelegraph, despite the weak performance of other major global assets, Bitcoin has still reached an all-time high. Over the past month, the price of Bitcoin has surged by 32%, while oil prices have dropped by 6.3%, the S&P 500 index has fallen by 1%, and gold has decreased by 1%. The rise of Bitcoin relative to other global assets is a positive signal for Bitcoin investors, reinforcing analysts' expectations that the current bull market will continue until the end of 2025—what cryptocurrency traders refer to as the "euphoria phase."

Moreover, according to the Net Unrealized Profit/Loss (NUPL) metric for long-term holders, Bitcoin has entered the euphoria phase. Quinten François, co-founder of WeRate, stated that this could extend Bitcoin's upward momentum until the end of 2025. NUPL measures whether the Bitcoin network is overall in profit or loss, based on the difference between unrealized profits and unrealized losses of BTC holders. Raoul Pal, founder and CEO of Global Macro Investor, indicated that based on its correlation with the liquidity index, Bitcoin could reach a "local top" of over $110,000 by January 2025.